Luxury Property Overview – Positive 2020 on the Costa del Sol
After a year that has been difficult for so many people around the world, now is the time to take a deep breath and look ahead with a renewed sense of optimism. There have, in fact, been significant silver linings across the Costa del Sol real estate skyline in 2020 – all of which means we can enter the new year in a positive state of mind.
Certainly, in the high-end Costa del Sol property market – and specifically Promas Estates’ own diverse portfolio and upmarket clientele – 2020 was remarkably buoyant.
Most of the company’s clients, both vendors and buyers, are in the wealthy bracket, and demand among this group remained strong throughout the year, with expectations of an even better 2021.
As other major real estate groups in Spain have also noted in recent months, exclusive residential areas such as Marbella remain highly coveted among international buyers, who are well-placed to take full advantage of the currently hugely favourable market conditions.
While Britons remain a key demographic, other nationalities from throughout Europe (Nordic, German, Belgian, Dutch, French, Swiss, eastern European, etc.) and elsewhere in the world increasingly represent a greater proportion of the market.
Promas Estates, for one, is excellently positioned to cater for this multinational clientele, with a portfolio of properties – from sumptuous villas to breath-taking penthouse apartments – that covers all luxury lifestyle tastes and distinctive “national” preferences.
Whether it is a grand infinity pool blending into the azure Mediterranean horizon, a chill-out lounge on a rooftop terrace or a fully-equipped home gym, Promas is able to tick all the boxes for those seeking the ultimate in refined living and the convenience of a contemporary town infrastructure nearby.
Cutting-Edge Viewings… and Bespoke Travel
Another important development in 2020 was a greater focus on online services. In this respect, Promas Estates is one of the companies at the forefront of latest high-tech web innovation, enabling clients to take advantage of a state-of-the-art digital experience from the comfort and safety of their own living rooms. Although nothing beats a personal viewing trip, combined, of course, with enjoying the local cuisine and beaches.
For those who do travel to the Coast in 2021 – whether it is to view properties, collect the keys to their new home or discuss putting their property on the market – Málaga-Costa del Sol International Airport is one of Europe’s most convenient transport hubs.
It also has a separate terminal for business and VIP passengers who prefer to avoid large public airport areas and opt to fly on private jets.
Impeccable Investment Opportunities
For clients wanting to buy a property (or properties) for investment purposes, the luxury market continues to offer succulent prospects. The overall market underwent something of a transformation in 2020, with a growing number of people preferring properties in non-urban areas that are able to accommodate a more outdoor, and healthier, lifestyle than the classic apartment in town.
Indeed, this has always been one of the luxury sector’s great strengths, and demand in 2021 is certain to increase for homes in exclusive gated developments a short drive from the coast, as well as sprawling villas on the outskirts of the Costa del Sol’s many enchanting inland villages.
The Bottom Line
Obviously, it’s the question on most people’s lips. Yes, they are keen to buy a new home in the sun, and Marbella offers an exceptional luxury setting, but what about the health and safety issues?
Over the past few months, in spite of the unprecedented situation, the Costa del Sol’s famed beaches have been well-maintained and monitored to ensure a safe environment. Supermarkets and other commercial outlets have incorporated meticulous protocols, and hospitality and leisure amenities have been quick to adapt to the new limitations.
Similarly, both Spaniards and foreign residents on the Costa del Sol have shown admirable respect for the health and safety rules in place, including diligent mask-wearing and social distancing. And that is just in the general community. The situation is even more reassuring in enclosed luxury estates, where every detail and scenario is scrupulously controlled – without imposing undue restrictions on mobility and relaxed living.
When visiting popular nearby hotspots such as Puerto Banús and Marbella’s Old Town, some restrictions will, understandably, be in place in 2021. However, new home buyers attracted by the Mediterranean way of life will still be able to savour an aromatic morning coffee overlooking the marina, an al fresco fresh seafood lunch at a chic beach club, and a gin tonic on the bar terrace as the sun sets.
So, for those wanting to join the créme de la crème of modern luxury living, Marbella will continue to offer once-in-a-lifetime opportunities in 2021. And Promas Estates’ specialist team will be on hand to provide local knowledge and experience – and valuable insight into this burgeoning market.